In order to enhance India’s manufacturing capabilities, the government has approved the production linked incentive (PLI) scheme for auto, auto-component, and drone industries.
While briefing the media, Minister of Information and Broadcasting of India Anurag Thakur revealed, Rs. 25,938 crores will be allotted to the auto sector and Rs. 120 crores to the drone industry under the budgetary provision for the PLI scheme.
He emphasized the need of PLI scheme and said, the decision has been taken to secure present as well as the future, and for local markets too.
“The automobile industry contributes to 35% of the manufacturing GDP of the country. It is a leading sector in generating employment. If we speak of the global automotive trade, then we need to increase India’s participation,” the Union minister said.